11-Year-Old Facebook Stock Investor Wants His Money Back
May 25, 2012 15:46
Is Sam Lesser Facebook's youngest IPO victim? While technically the 11-year-old isn’t old enough to go on Facebook without his parents’ help, he's still a little bummed about spending all his savings on social networking site’s turbulent IPO.
Like countless of other investors, Lesser was stoked to hear that Facebook was filing an IPO. However, due to the numerous glitches
that plagued Facebook’s first day of trading on the NASDAQ, he's unsure about his order has been filled after waiting for four days since he first tried to buy the shares. And
his attempts to cancel the order have so far been stymied.
spoken with three senior traders [at brokerage firm Fidelity] and
nobody seems to have any answers,” Lesser’s mom told the New York Post.
““We feel misguided and misled.”
“They are holding my money hostage,” Lesser said. “It’s really disappointing, because we could have made money on this."
Lesser reportedly tried to buy 300 shares of Facebook stock during the company’s initial public offering last week, and spent more than $10,000 of his own money earned from a small company in which he set up selling skateboards and bracelets. He even had plans to give a cut of his profit to Lance Armstrong’s LiveStrong cancer charity.
But at least Lesser has his backup plan; the boy reportedly has an undisclosed value of his stake in Apple Computer Inc., which he bought when he was five. Apple stock has surged as much as 800% since then.
For a while now, it seems and feels like Taylor Swift has been collecting famous friends. And boy, is she an avid collector. A lot of her friends are tall, very attractive, famous, and successful. Birds of a feather, right? Read more
Remember The O.C.? The show that many others right now have followed with a successful formula? Poor boy meets rich girl. They fall in love. Drama unfolds. Etc. Well, if you remember it, then you'll remember the glamorous mansion they used to shoot a lot of the scenes with. Now it's on sale. Read more
Like taking selfies? Group selfies perhaps? Then if you do, you should probably read this. Because according to reports, you could get lice. Imagine getting close up to someone for a picture, not knowing if they've got lice or not. Your heads touch. You smile. The camera snaps and takes a picture. But something else happens. Read more